Posted 1 year ago | by Catoshi Nakamoto
DAO1 will conduct their Initial Launchpad Offering on YFDAI LaunchPad via Polygon the Week of May 24th
YFDAI is ready to launch their next LaunchPad project, DAO1! DAO1 will be the first LaunchPad project to have its Initial Launchpad Offering conducted on the Polygon Network thanks to the network’s near ‘zero-gas’ instant transactions and superb user experience.
DAO1 is a decentralized socio-economic platform offering innovative financial products for the community. With no central governing authority, the platform will feature original mechanisms managed by sustainable arrangements and cutting-edge technology with minimal human interference to maximize greater returns across its suite of services.
As the name implies, DAO1 is based on the Decentralized Autonomous Organization (DAO) governance model while promoting financial inclusiveness through innovative financial products and services, which are accessible to anyone, starting from Day 1. DAO1’s platform utility token, also known as DAO1, functions as the core utility asset for the DAO1 hub. It is used to access all of the services in its ecosystem. Core features of DAO1 ecosystem include:
DAO1’s Initial Launchpad Offering (“ILO”) will be exclusively for YFDAI’s staking and farming community. With DAO1’s smart contract audit now completed, the DAO1 ILO will happen the week of May 24, 2021.
“The DAO1 team is elated to be part of the YFDAI Launchpad. We couldn’t have asked for any better team than the great guys at YFDAI and their dynamic community to give as a good start. YFDAI is known for picking projects with huge potential and helping them get off the mark to become successful. We will be working closely with them to ensure DAO1 is a success and along the way, we help many turn their vision into a reality,” said Chief Strategist at DAO1, Leo Georgievic.
With the completion of the DAO1 smart contract audit, DAO1 will be officially certified by YFDAI. As with all YFDAI projects, DAO1 passed the strict LaunchPad qualifying criteria, which includes:
- Full KYC on all core team members
- 100% of team, advisor and marketing tokens locked in time-release smart contracts
- Smart contract audit by Blockchain Consilium
- Locked liquidity via YFDAI on SafeSwap, Uniswap and QuickSwap (Polygon’s DEX)
- Confirmation of no prior fundraising
- Agreement that funds to DAO1 will be distributed over the months outlined in the tokenomics
Across the DeFi industry, illegitimate projects have been able to launch and hide in the dark. The YFDAI LaunchPad is only accessible to the very best projects, and DAO1 is now officially certified by YFDAI.
Richard V., YFDAI’s LaunchPad Manager said, “Utilizing Polygon as our go-to network for YFDAI LaunchPad will enable us to attract greater interest from token sale participants and projects thanks to its near “zero gas” fee transactions, ease of use, and interoperability with the Ethereum Network. We’re excited to have DAO1 as our first project to run their token offering on LaunchPad, which will also enable listing their token on QuickSwap, Polygon’s native DEX, in addition to our DEX and Uniswap, and provide more exchange options at listing.”
DAO1 SnapShot & Pre-Sale Process
Typically, all YFDAI stakers and farmers that have been staking/farming for a minimum of 30 days are automatically white-listed and eligible to participate in LaunchPad Offerings.
Pre-sale Eligibility: However, for our first LaunchPad token launch on Polygon, we are now going to allow any YFDAI stakers and farmers that are staking or farming YF-DAI by Monday, May 17th at 5 pm UTC (the date and time of our snapshot) to be eligible to whitelist for the DAO1 pre-sale!
To ensure that new YF-DAI stakers or farmers don’t only stake or farm for DAO1 pre-sale eligibility and our May 17th snapshot (wallet scan), we will be taking another snapshot at a to-be-disclosed date and time prior to the pre-sale start during the week of May 24th. Any new staking or farming wallets added between snapshots will not be counted.
This second snapshot will determine the token allocation that each participant will be entitled to purchase during the pre-sale itself and it will be announced when completed.
This pre-sale allocation will be based on the total amount of YF-DAI staked/farmed, the applicable multiplier based on the duration of staking/farming, and the relevant cap based on the project’s total fund raise limits (the hard cap) and other DAO1 investors.
The more YF-DAI you have staked or farmed, the higher the allocation of DAO1 you will be able to purchase in the pre-sale. Our standard multipliers will apply to the DAO1 pre-sale based on the time that you are staking and/or farming.
Token Multiplier Levels:
Prior to the DAO1 pre-sale launch, we will release a Google Form for those meeting this criteria to apply, ensuring that the distribution of allocations is only to those that wish to purchase.
This Form will be released via the YFDAI Announcement channel on Telegram: https://t.me/yfdai
DAO1’s pre-sale is slated for the week of May 24th and the finer details are to be released in advance.
Here is a high-level overview of DAO1’s tokenomics:
Total Token Supply: 3.6 million tokens
Total Pre-sale Allocation: 828,000 tokens (23% of token supply)
Pre-sale Strategic Round Token Price: $1.20 per token
Pre-sale Private Round Token Price: $1.90 per token
Pre-sale Tokens @ TGE:
Strategic Round: 0% of tokens unlocked at TGE
Private Round: 20% of tokens unlocked at TGE
Strategic Round: 20% on month 2 + 0.444% Daily starting on Day 2 of Month 2
Private Round: 20% at TGE + 0.4444% Daily starting on Day 2
Public Sale: 108,000 tokens (3% of token supply)
Public Sale Price: $2.50 per token
Public Sale Distribution: 80% Unlocked at TGE and 20% Vested over 30 days after TGE Day.
Total Pre-sale Raise: $1,722,600 (including Seed VC Round of $275,400)
Market Cap @ TGE (excl. liquidity): $540,000
Market Cap @ TGE (incl. liquidity): $1,305,000
Hard Cap: $1,992,600
View the full DAO1 tokenomics here: https://drive.google.com/file/d/1raaAFBSyJXRC2jj08oj-0anY7Sd0bu2T/view?usp=sharing
Please visit DAO1’s website and review their whitepaper for more tokenomics details.
DAO1 is an community-led socio-economic blockchain architecture with tools like Decentralized Fund (DeF), Hybrid Advisory, Startup Funds, Incubator platform, and NFT Charity initiative that empower the community to pursue financial sovereignty under DAO governance from Day 1.
The uniqueness of DAO1 in comparison to other projects in the DeFi space can in part be attributed to the symbiosis of human and machine in a user-friendly interface, catering to beginners as well as professionals, with a whole ecosystem to back it up. DAO1 showcases strength in the DeFi space by introducing financial inclusiveness at all levels, no matter the individual financial expertise. The project promotes community empowerment through their Crypto Venture & Startup Fund feature. DAO1 breaks down the barriers to encourage community members to start investing with only $100. DAO1 offers a venture capital fund investment experience, but without the exorbitant fees involved or unreasonable entry requirements.
The project’s suite of services include:
- Decentralized Fund (DeF): artificial intelligence (AI) assisted decision making enabling the community to make prudent but smart decisions on investments
- Crypto Venture & Startup Fund: a portfolio supporting investments with any coin of choice in various funds that come with an attractive APY
- DAO1 Incubator: identifies high-potential projects and provides them with exclusive mentorship, development funds, and access to respectable partnerships until there is a finished product or service.
- Charity Initiative: will be open to anyone that signs up on the DAO1 platform and it will enable any community member or artist selling tokenized NFTs to raise funds and donate to charitable causes of their choice
- Hackathons: empowering Developers from anywhere to sign up and create prototypes of DeFi products and services based on real world use cases
- Staking: a simplified high reward staking mechanism that allows community members to earn better returns than any deposits based on a fixed term, currently available on the market
- Farming: where users provide liquidity to DAO1 by depositing their DAO1 plus ETH tokens into a liquidity pool on various DEXs
- Underwritings: DAO1 holders will be able to engage directly in the value appreciation of launched incubation projects
Official website: https://dao1.org/
Check out the DAO1 intro video on their website: https://dao1.org/
We will be releasing more information in the coming days on DAO1’s ILO. Stay active and engaged!
Farming — https://farm.yfdai.finance
Staking — https://stake.yfdai.finance
Website — https://yfdai.finance
Telegram Community — https://t.me/yfdaifinance
Telegram Announcements — https://t.me/yfdai
Discord — https://discord.gg/S3GRXRC
Bitcointalk — https://bitcointalk.org/index.php?topic=5295276.new#new
Reddit — https://www.reddit.com/r/YFDAI
Original article published on YFDAI’s Medium.